The Southern Company (NYSE:SO) Stock Position Decreased by Spire Wealth Management

Spire Wealth Management cut its position in shares of The Southern Company (NYSE:SOFree Report) by 8.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,229 shares of the utilities provider’s stock after selling 288 shares during the quarter. Spire Wealth Management’s holdings in Southern were worth $209,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. VisionPoint Advisory Group LLC acquired a new position in shares of Southern in the 2nd quarter valued at about $27,000. Intrepid Capital Management Inc. acquired a new position in Southern in the 2nd quarter valued at approximately $30,000. Sanctuary Wealth Management L.L.C. acquired a new stake in shares of Southern during the 4th quarter valued at $34,000. VitalStone Financial LLC purchased a new position in shares of Southern during the 2nd quarter valued at $35,000. Finally, RVW Wealth LLC acquired a new position in shares of Southern in the third quarter worth $35,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SO has been the topic of a number of recent research reports. Morgan Stanley boosted their target price on Southern from $66.00 to $67.00 and gave the company an “equal weight” rating in a research note on Tuesday, November 21st. Citigroup began coverage on Southern in a report on Friday, December 8th. They issued a “buy” rating and a $82.00 price objective on the stock. Barclays reduced their target price on shares of Southern from $68.00 to $67.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 17th. BMO Capital Markets upgraded shares of Southern from a “market perform” rating to an “outperform” rating and increased their price target for the stock from $72.00 to $77.00 in a research note on Thursday, January 11th. Finally, Mizuho reduced their price objective on shares of Southern from $76.00 to $73.00 and set a “buy” rating for the company in a research note on Tuesday, November 21st. One research analyst has rated the stock with a sell rating, six have issued a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $74.00.

Read Our Latest Stock Analysis on Southern

Southern Price Performance

Shares of NYSE:SO opened at $66.91 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.84 and a debt-to-equity ratio of 1.59. The business has a 50 day moving average price of $70.10 and a 200 day moving average price of $68.95. The company has a market cap of $72.97 billion, a price-to-earnings ratio of 24.16, a PEG ratio of 4.18 and a beta of 0.50. The Southern Company has a twelve month low of $61.56 and a twelve month high of $75.80.

Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 6th. Stockholders of record on Tuesday, February 20th will be paid a $0.70 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $2.80 annualized dividend and a dividend yield of 4.18%. Southern’s payout ratio is 101.08%.

Insider Buying and Selling

In related news, EVP Christopher Cummiskey sold 899 shares of the stock in a transaction dated Tuesday, February 6th. The shares were sold at an average price of $67.06, for a total value of $60,286.94. Following the completion of the sale, the executive vice president now owns 22,502 shares in the company, valued at $1,508,984.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, EVP Christopher Cummiskey sold 899 shares of the business’s stock in a transaction that occurred on Tuesday, February 6th. The stock was sold at an average price of $67.06, for a total transaction of $60,286.94. Following the sale, the executive vice president now directly owns 22,502 shares in the company, valued at $1,508,984.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider David P. Poroch sold 10,099 shares of the firm’s stock in a transaction on Wednesday, January 17th. The stock was sold at an average price of $69.96, for a total value of $706,526.04. Following the completion of the transaction, the insider now directly owns 28,691 shares of the company’s stock, valued at $2,007,222.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 30,998 shares of company stock valued at $2,176,813. 0.28% of the stock is owned by company insiders.

About Southern

(Free Report)

The Southern Company, through its subsidiaries, engages in the generation, transmission, and distribution of electricity. It operates through three segments: Gas Distribution Operations, Gas Pipeline Investments, and Gas Marketing Services. The company also develops, constructs, acquires, owns, and manages power generation assets, including renewable energy projects and sells electricity in the wholesale market; and distributes natural gas in Illinois, Georgia, Virginia, and Tennessee, as well as provides gas marketing services, gas distribution operations, and gas pipeline investments operations.

See Also

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Institutional Ownership by Quarter for Southern (NYSE:SO)

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